1 consumer update. 2 overview how often it must be provided what consumer information must be...

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Consumer UpdateConsumer Update

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OverviewOverview

• How often it must be provided

• What consumer information must be provided

• Who must it be provided to

• Misrepresentation

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How often must it be providedHow often must it be provided

• Annually– enrolled students– how to obtain the information

• Distribution– mail– email– website

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What must be providedWhat must be provided• Financial assistance information

• General school information

• Graduation or completion rates

• Security policies and crime statistics

• Loan counseling

• Drug and alcohol abuse prevention

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What must be providedWhat must be provided

• Financial assistance information– need-based and non-need-based federal aid– need-based and non-need-based state, local,

institutional and private aid– how to apply and how eligibility is determined– how and when aid is distributed– rights and responsibilities

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What must be providedWhat must be provided

• Financial assistance information (cont.)– how and when aid is disbursed– terms/conditions of employment that is part of

aid package– terms, schedules, and necessity of loan

repayment and required exit counseling– terms and conditions of deferment – SAP and if failed to maintain how to regain

eligibility

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What must be providedWhat must be provided

• Financial assistance information– new

• terms and conditions of loan• private loan disclosures• preferred lender list

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What must be providedWhat must be provided• General school information

– cost of attending– withdrawal procedures– degree programs– names of accrediting, approval or licensing

agencies– facilities and services for disabled students– funds available for study abroad programs– whom to contact for financial assistance and

general school information

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What must be providedWhat must be provided• General school information

– new• plan for improving degree programs• policies and sanctions for copyright infringement• student body diversity• types of grad/prof programs graduates enroll in• employment placement for students• retention rate of certain undergraduates• polices regarding vaccinations• transfer of credit

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What must be providedWhat must be provided

• Graduation and completion rates– graduation and transfer-out rates– graduation and transfer-out rates for student

athletes

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What must be providedWhat must be provided

• Graduation and completion rates– new

• rates for full-time, undergraduate students seeking certificate or degree

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What must be providedWhat must be provided• Security policies and crime statistics

– crime statistics – three most recent calendar years• homicide• sex offenses• robbery• aggravated assault• burglary• car theft• arson• liquor and drug law violations• illegal weapon possession

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What must be providedWhat must be provided

• Security policies and crime statistics (cont.)– hate crimes– breakdown of location– can not identify victim or accused– statistics from police agencies

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What must be providedWhat must be provided

• Security policies and crime statistics– new crime statistics

• hate crimes:– larceny-theft– simple assault– intimidation– destruction, damage or vandalism of property

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What must be providedWhat must be provided

• Security policies and crime statistics– additional information

• separate campus• timely warning• crime log

– annually to students and employees– upon request of prospective students and

employees

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What must be providedWhat must be provided

• Security policies and crime statistics– new

• agreement with local authorities to investigate• emergency response and evacuation policy and

procedure• procedure to publicize emergency response and

evacuation policy and annual testing of procedures• results of disciplinary action to victim

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Questions?Questions?

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ResourcesResources• www.ifap.ed.gov

– 2008-2009 Student Aid Handbook• Providing Consumer Information

– Volume 2, Chapter 6• General Participation Requirements

– Volume 2, Chapter 3

• 34 CFR 668 Subpart D– 668.41 through 668.48

• Higher Education Opportunity Act of 2008 (H.R. 4317)

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Contact informationContact information

Policy Department

National Student Loan Program

askpolicy@nslp.org

1-800-735-8778 ext. 6873